New York S10403 prohibits insurers from excluding coverage for lead-based paint damages in rental properties.

New York S10403 amends the insurance law to prohibit insurers from excluding coverage for losses or damages caused by exposure to lead-based paint in rental properties. The bill mandates that no insurer licensed or permitted by the superintendent can exclude such coverage after 26 months from the effective date. The Department of Financial Services is also prohibited from permitting, authorizing, or approving any exclusion for lead-based paint injuries or damages, except as specifically provided by law. This act takes effect immediately.

New York S10403 prohibits insurers from excluding coverage for lead-based paint damages in rental properties.

New York S10403 amends the insurance law to prohibit insurers from excluding coverage for losses or damages caused by exposure to lead-based paint in rental properties. The bill mandates that no insurer licensed or permitted by the superintendent can exclude such coverage after 26 months from the effective date. The Department of Financial Services is also prohibited from permitting, authorizing, or approving any exclusion for lead-based paint injuries or damages, except as specifically provided by law. This act takes effect immediately.